Market Update 21st October 2024
October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
Palm oil ended its strong rally a week ago now. The run on edible oils came to an abrupt halt as lower export figures coupled with slightly better crops figures all weighed heavily on the market. Also better news about Soya crops meant prices fell back almost as sharply as they rose. It also did not harm that equity markets increased so some money moved there as well. Coconut oil fell back from $1750 to $1550 in a week. Still up from where its started in the $1400 but still much lower. Looking forward prices should remain stable if a little weaker as continued disagreement with OPEC on crude holds back prices there as well.
Desiccated shippers panicked when coconut oil hit $1700 as fear over May and June shipments caused most to withdraw or up their prices significantly. But with oil falling back to just over $1500 the panic for now appears to be reduced. Yes prices are up on before no doubt but we are now talking about a much smaller increase. Competition from Indonesia may even see prices return to early April price quite quickly. But there is no doubt that supply from top quality shippers cannot keep up with demand at the moment.
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October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
October 7, 2024
In the week ending September 28, 2024, international coconut oil prices in Europe increased slightly…
September 23, 2024
The price of coconut oil has increased slightly, while prices for palm kernel oil and…
September 16, 2024
Coconut oil prices remain firm despite a lack of trading activity in key markets like…
September 9, 2024
Shipping News Container spot freight rates between Asia and Europe have dropped Rates on the…
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